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Capitalism is based on a number of key principles, the most important of which is private property. A capitalist is precisely someone who owns means of production and controls a significant bit of capital, this is founded on private property. If private property is abolished, capitalism cannot exist.
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How are private property rights related to the system of capitalism?
Capitalism is based on a number of key principles, the most important of which is private property. A capitalist is precisely someone who owns means of production and controls a significant bit of capital, this is founded on private property. If private property is abolished, capitalism cannot exist.
Private ownership and free markets are characteristics of what?
Free enterprise system
Under which system are factories controlled by private companies?
capitalism
What economic system is based on private ownership?
capitalism
What are the 4 basic rights that form the foundation of capitalism?
The four basic rights that form the foundation of capitalism are the rights to private property. The right to keep all profits made after taxes, the right of choice and the right to compete with other business'.
What economic system is characterized by private property and a market economy?
CAPITALISM
What is a form of economic system that private control of business?
Capitalism
What is a system of government that supports and regulates private enterprise?
capitalism
What economic system is based on private ownership and competition motivated by profit?
market economy
What is the economic system based on private ownership investment and profit?
Capitalism is the economic system based on private ownership and profit.
What is the premise of capitalism?
It is a system that is based on the private ownership of the means of production. The goal is to make a profit. Property rights and a lack of government control over markets are emphasized.
What system puts the means of production in the hands of private owners?
Capitalism
